Did you know that your child has their own money personality by the time they turn 7 years old? A money personality is your attitude and repeated actions with money. This behaviour comes from how you were raised with money and what you observed your parents do and say regarding money.

Here are few examples:

  • Hoarders/Savers – these are people who struggle to part with money, even when necessary, for various reasons
  • Investors – these are people who understand the principles of good money management and how to make money work for them
  • Spenders – these are people who part with money very easily and hardly spare a thought for the future
  • Gamblers – these are people who take unnecessary risks with their money

Understanding your money personality and the negative effects your behaviour can have on your finances is a vital step towards financial wellness. As an adult with access to children, you must be more mindful about your behaviour with money and its effect on how they eventually view and treat money.

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